We continue with our season devoted to a topic on most marketer’s minds: return on investment (ROI). Marketers are facing more pressure than ever to justify their expenditures.
In this week’s episode, we talk about some concepts first postulated 20 years ago, but even more relevant today. We dig deep into the concepts of Customer Lifetime Value, Share of Customer and High Potential Customer Strategies. These concepts have been around awhile, but advances in analytical “horsepower” is making them accessible to all marketers.
In this episode you will learn:
- Why measuring individual customer profitability leads many companies to finally bust product and. divisional silos
- Definitions of key terms like “most valuable customers” and “most growable customers”
- Strategies companies use to quickly grow their share of high potential customers
Here’s some quotes from the team’s dialogue on these topics:
“Is your company just stapling together your strategy, or is it more coordinated than that?”
“Who in your company is responsible for looking across your entire customer base and coordinating your company’s total offer?”
“These concepts may not be new — but if you’ve never seen them before, they are new to you!”
We hope you enjoy the podcast!